China's Imports of N. Korean Goods Shrank Nearly 38% in September

China's Imports of N. Korean Goods Shrank Nearly 38% in September

Exports climbed 8.1% year-over-year in September, data from the General Administration of Customs showed Friday.

That is the joint-highest monthly level this year, tying the figure from March.

China's imports from North Korea fell for a seventh straight month in September, dropping 37.9% year-on-year as Beijing implemented the latest United Nations trade sanctions aimed at persuading Pyongyang to rein in its nuclear and missile programmes.

China's global trade surplus in September shrank 38.6 percent from the same time past year to $28.5 billion.

The gain was stronger than the most optimistic forecast in a Reuters analysts poll.

More news: AT&T lowers Q3 Guidance due to Natural Disasters

The sanctions, which could cut off one-third of North Korea's total annual exports of US$3 billion, took effect in September, but China enforced the new measures from Aug 15.

That left the country with a trade surplus of $28.47 billion, less than the near $40 billion expected and down from around $42 billion in August. Imports rose 18.7 percent to $169.8 billion, an improvement from the previous month's 13.3 percent. House says that part of the pick-up comes amid shift in the timing of the Mid-Autumn Festival, leading to more working days last month than in September 2016.

Export growth was unexpectedly strong in the first half of the year, a positive sign for Chinese leaders who want to avoid job losses in trade-related industries as they try to nurture consumer-led economic growth.

Trade surplus shrank 17.7 percent to 2.03 trillion yuan in the same period.

Authorities are in the midst of a campaign to reduce the risks from a rapid build-up in debt produced by years of credit-fuelled stimulus, and the continued strength of imports and exports could give policymakers confidence to stick with their deleveraging push into next year.

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